Gunnebo interim report January-June 2011
Comments to the quarter by Gunnebo’s President and CEO Per Borgvall
“We are seeing continued good growth on our markets in Asia, Africa and the Middle East. Good business development on these markets is compensating well for the moderate development on many markets in Europe.
One of the six activities in the Get It Right action programme is to reduce the Group’s fixed costs. During the second quarter, three was continued improvement in the gross margin, which amounted to 30.5% (29.5%).
The improved gross margin, increased sales and reduced re-structuring costs contributed to an improvement in operating profit during the second quarter to MSEK 76 (54). Increased market investments and a negative currency effects counteracted further profit improvements. Furthermore, net financial items improved to MSEK -9 (-20).
Work to implement the set strategy is continuing. The establishment of the operation in China is proceeding according to plan, and is having positive effects on market initiatives for Entrance Control products and solutions in the region, for example.”
Second quarter 2011
- Order intake increased organically by 1% to total MSEK 1,432 (1,498).
- Net sales increased organically by 4% and amounted to MSEK 1,458 (1,513).
- Operating profit improved to MSEK 76 (54) and the operating margin to 5.2% (3.6%).
- Net financial items improved to MSEK -9 (-20).
- Profit after tax for the period totalled MSEK 40 (38).
- Earnings per share were SEK 0.55 (0.50).
January-June 2011
- Order intake increased organically by 3% and amounted to MSEK 3,062 (3,209).
- Net sales increased organically by 3% and amounted to MSEK 2,720 (2,858).
- Operating profit improved by MSEK 48 to MSEK 81 (33), and the operating margin was 3.0% (1.1%).
- Net financial items improved to MSEK -16 (-42).
- Profit after tax for the period totalled MSEK 33 (-7).
- Earnings per share were SEK 0.45 (-0.10).
Full report is attached to this press release.
The interim report will be presented by Gunnebo’s President and CEO Per Borgvall and CFO Fredrik Östman at a phone conference July 18, 15.00 CET. To participate in the conference, please sign up using the link below. When registering, you will receive a phone number and a password:
https://eventreg1.conferencing.com/webportal3/reg.html?Acc=720511&Conf=178871
On Gunnebo’s website you will also find presentation material for download appr. 30 minutes prior to the conference starts.
GUNNEBO AB (publ)
Group Communications
For further information, please contact:
Per Borgvall, President and CEO Gunnebo AB, tel. +46 10 2095 000, or
Fredrik Östman, CFO Gunnebo AB, tel. +46 10 2095 000, or
Karin Wallström, Communication & IR Director Gunnebo AB, tel. +46 10 2095 026, or e-mail karin.wallstrom@gunnebo.com
Gunnebo discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 14.01 CET on July 18, 2011.
Gunnebo security group has an annual turnover of MEUR 650 and 5,700 employees. We are suppliers of integrated security solutions for bank, retail and sites in need of high security protection. Our experience and presence make your world safer.
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